Bridge Capital is lone proposer in La Fiesta project

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Bridge Capital is lone proposer in La Fiesta project

ridge Capital LLC, which bought interest on the La Fiesta property in March 2007, is the only entity that responded to the government’s request for proposal involving the lease, development or revitalization of the vacant La Fiesta Mall in San Roque.

The government, however, has yet to disclose whether a contract will be awarded to Bridge Capital LLC or the RFP will be re-issued.

“Only Bridge Capital LLC responded to the RFP in question,” Herman S. Sablan, director of the Division of Procurement and Supply, told Saipan Tribune yesterday, in response to an Open Government Act request in connection with the result of RFP09-SOF-051.

Since the former La Fiesta Mall shut its doors in 2004, the building has become a wasteland, yet it costs the government at least $200,000 in annual lease payment to Bridge Capital LLC, a lending company.

Bridge Capital LLC is a different entity from Bridge Investment Group, which plans to operate a casino on Tinian. Bridge Capital LLC owned the now defunct Guam Greyhound Park racetrack.

Jon Anderson, loan officer for Bridge Capital LLC, yesterday said they have not received a formal notification from the government about the result of the RFP, although they already heard last week that they were the only one that submitted a proposal.

He said until they get a formal acknowledgement from the government, they wouldn’t be able to disclose their specific plan for La Fiesta.

Back in December 2007, there were stories from the community that Bridge Capital LLC may have a role in efforts to get gaming legalized on Saipan and a possible gambling operation at La Fiesta. Bridge Capital LLC was vague about it, saying they are interested in any opportunity that comes up.

In March 2007, Bridge Capital bought interest on the La Fiesta Mall property from the Japanese-owned Coco’s Lagoon Development. The CNMI government, which acquired the building in 2004, is now paying Bridge Capital about $200,000 a year for the lease of the idle property.

The Fitial administration earlier said it wants to make the former La Fiesta mall, located across Palms Resort in San Roque, “productive again.”

The RFP said special consideration will be given to proposals that will develop the La Fiesta property “into a promising and sustainable tourist attraction and entertainment complex,” and the lease, redevelopment and revitalization of the La Fiesta property includes upgrading and renovating all existing facilities within the commercial complex.

The deadline for submission was Feb. 27 but off island entities had until March 10 to submit their proposal.

At one point, La Fiesta housed the Commonwealth Utilities Corp., and was eyed as a site for the Pacific Gateway education project, which did not materialize. Last year, it was also proposed as a site for adult businesses because of its isolated location.

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Bridge Capital offers to buy $20M bond for Guam Gov

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Bridge Capital offers to buy $20M bond for Guam Gov

Bridge Capital, LLC, in a letter to the Guam Economic Development and Commerce Authority, said it would be willing to consider purchasing a $20 million bond to help the Guam Government meet a federal court order.

“Bridge Capital, LLC would be willing to consider purchasing a bond or bonds secured by the full faith and credit of the Government of Guam with a specified source of repayment revenue for that amount,” the letter states.

The Guam Government was ordered to come up with the $20 million needed for a dump closure and landfill projects by Jan. 5, 2009. A financing plan must be agreed upon by Dec. 5, according to Guam’s Pacific Daily News.

Bridge Capital, LLC, is an international lending and financial services firm headquartered on Saipan.

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Bridge Capital summons local artists to contest

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Bridge Capital summons local artists to contest

Bridge Capital LLC is inviting content creators to unleash their inner-artists and submit their masterpieces for the organization’s 10th annual art competition. The competition is receiving entries until April 6, 2023.

With cash prizes totaling up to $15,000, the grand prize winner will take home $2,000. There will also be a Governor’s Choice awardee, and a Community Choice awardee, with each one receiving $1,000.

The competition’s art categories include painting and drawing, photography, and open category. There will be three divisions: the 11-year-old-and under division, a 12-17-year-old division, and a division for all other ages.

Entries are to be submitted at the Bridge Capital building on Micro Beach Road in Garapan. The office building is open Monday to Friday from 8am until 5pm. For more information or to make an inquiry, email events@bccnmi.com, or visit cnnmiart.com. You can also contact them via phone at 670-322-2222. (Chrystal Marino)

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Bridge Capital Donates $6K in Cash and Prizes to NMC Foundation

Bridge Capital Donates $6K in Cash and Prizes to NMC Foundation

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Bridge Capital Donates $6K in Cash and Prizes to NMC Foundation

As part of its efforts to support higher education and expanding opportunities for students, Bridge Capital recently donated $6,000 in cash and prizes to Northern Marianas College. The company’s donation was made in support of NMC Foundation’s upcoming golf open in March 2023.

“Bridge Capital is proud to be a part of the effort that helps NMC provide quality higher education to the CNMI,” Bridge Capital vice president Bart Jackson said. “We encourage other companies and organizations in the Commonwealth to do the same.”

For the first time, NMC’s tournament will be a two-day event and will be held on March 18 and 19, 2023, on the east and west courses of the LaoLao Bay Golf and Resort. The tournament fee for the 2023 golf open is $250.

“The success of NMC Foundation’s golf tournaments is largely due to the generosity and involvement of businesses like Bridge Capital,” NMC Foundation Board chair Ben Babauta said. “We are greatly appreciative of their donation this year.”

The tournament, which is the signature event of the NMC Foundation, aims to raise funds for the college for its rebuilding and reconstruction efforts. Despite the devastation and destruction of Super Typhoon Soudelor and Yutu, the college has been aggressively seeking funds from all available sources to rebuild classrooms, offices, labs, and workforce spaces for the CNMI community. The foundation is seeking the CNMI private sector’s support through fundraising events like the golf tournament.

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Bridge Capital to host the 12th edition of CNMI Got Talent

Bridge Capital to host the 12th edition of CNMI Got Talent

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Bridge Capital to host the 12th edition of CNMI Got Talent

Highlighting talents in the Marianas and in celebration of their 12th anniversary, Bridge Capital LLC.’s upcoming Christmas-themed CNMI Got Talent 12 has opened the period to accept for participant entries and will continue to receive submissions until Nov. 21, 2022.

The competition, centered on the holiday season, requires interested participants to submit a high-resolution Christmas-themed video audition—of any format—in order to compete. The participant must submit their video in-person at the Bridge Capital office in Garapan.

With two categories, one for those 16 years old and under, and another for adults 17 and above, the prizes that are to be handed out will total over $15,000. Auditions in the Adult category are only for singing and open-mic.

Bridge Capital invites the community to join the competition. For more information call (670) 322-2222 or you may contact through email at events@bccnmi.com. (Chrystal Marino)

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Bridge Capital is Deluxe Sponsor for 2021 HANMI Golf Tourney

Bridge Capital is Deluxe Sponsor for 2021 HANMI Golf Tourney

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Bridge Capital is Deluxe Sponsor for 2021 HANMI Golf Tourney

Bridge Capital LLC has signed on as a Deluxe Sponsor for 19th Annual HANMI Charity Classic Golf Tournament on Aug. 14, 2021 at Coral Ocean Resort, donated $1,200 cash to the cause. The tournament will benefit the 2022 Northern Marianas Pacific Mini Games.

“Bridge Capital has been a supporter of countless community events for as long as I can remember,” said tournament committee chair Glenn Policare. “To have Bridge Capital step into the Deluxe Sponsor role this year is so greatly appreciated!”

Bridge Capital joins Pacific Eco Laundry as Deluxe sponsors for the tournament. Hole-in-One prizes are a 2021 Toyota Camry LE from Atkins Kroll Saipan, a 2021 Hyundai Elantra from Triple J Motors, and a 2021 Nissan Kicks from Joeten Motors Company, and $10,000 cash from United Equipment Rental. Presidential Suite Sponsors are Tan Siu Lin Foundation and Marianas Visitors Authority. Deluxe Package Sponsors are Bridge Capital LLC and Pacific Eco Laundry. Superior Package Sponsors are GrandVrio Resort Saipan, Saipan World Resort, Kanoa Resort Saipan, IT&E, Kautz Glass and Shirley’s Coffee Shop. VIP Package Sponsors are Armatech, Ben’s International Corp., Chung Nam Corp., Chong’s Corporation, Dial Rent to Own, DOCOMO Pacific Saipan, Ernst and Young, Ina’s Kitchen, the Japan Saipan Travel Association, Kensington Saipan Hotel, Pacific Islands Club Saipan, and Pacific Saipan. The tournament is also supported by numerous in-kind sponsors.

The tournament fee of $140 includes green fee and the awards luncheon, and registration forms are available at www.saipanhotels.org. For an additional $30, players may also compete for optional play cash and prizes, including longest drive (male and female), accurate drive, and four chances for nearest to the pin. Showtime is 6am and the tournament will start at 7am. An awards presentation and raffle will be held poolside immediately following the tournament at Coral Ocean Resort.

For more information, contact tournament chair Glenn Policare at glenn_policare@kanoaresort.com or visit www.facebook.com/HANMI670. (PR)

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